Blockchain

Ethereum Merge Has 34,000 Blocks Left, Expected To Happen On September 14

The much-anticipated Ethereum (ETH) consolidation will take place on September 14 at 9 p.m. UTC, according to tracker Ultrasound.money.

Tracker estimates that the highly anticipated Merge is around 34,000 blocks away. The Merge is set to happen at a final total difficulty of 58,750,000,000T, while the latest block difficulty is at 12,345T.

Gnosis co-founder, Martin Köppelmann, has revealed that previously offline validators are back online as “the clearly visible drop at Bellatrix is returning to normal”.

Köppelmann raised concerns on September 6 that the Bellatrix upgrade’s block missed rate was around 9%, higher than the usual rate of 0.5%. Many in the community take this as a sign to question the network’s readiness for The Merge.

However, with the new reveal, the community will rest assured that everything will go as planned for The Merge.

According to Ultrasound.money, the total supply of Ethereum is over 120 million and the amount of Ethereum staking on the Beacon chain is 13.6 million ETH, which is more than 10% of the asset’s supply.

The tracker predicts that Ethereum PoS will release 1700 ETH per day if the ETH staking reaches 14 million. It notes that as the number of Ethereum staking increases, the number of assets issued will also increase.

Meanwhile, a report by Chainalysis states that Merge will attract more institutional investors to Ethereum. According to the report, ETH will behave more like bonds and commodities, boosting institutional confidence in the token.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.